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Hong Kong property insurance industry to exceed $1bn by 2030

The Hong Kong (China SAR) property insurance industry is projected to grow at a compound annual growth rate (CAGR) of 7.5%, increasing from HKD7.0 billion ($894.3 million) in 2026 to HKD9.3 billion ($1.2 billion) by 2030, in terms of direct written premium (DWP), according to GlobalData, a leading intelligence and productivity platform.
Posted on Thursday Apr 2

Hailstorms hit record damages from severe convective storms

The frequency and intensity of severe convective storm (SCS) events have increased significantly, leading to insured losses in billions of US dollars globally. Damage to aircraft, buildings, manufacturing plants, and renewable power generation, including solar panels, are among the most expensive drivers of hail claims, Allianz Commercial analysis shows. SCS events are unpredictable, but risks can be mitigated with a combination of traditional resilience measures and artificial intelligence (AI) solutions.
Posted on Wednesday Apr 1

Iran conflict narrows travel insurance options

Conflict involving Iran is beginning to have a tangible impact on the cost and practicalities of travel, with higher fuel prices, disrupted flight routes and more limited travel insurance options for some destinations all creating pressure for holidaymakers, according to Defaqto.
Posted on Tuesday Mar 31

Sharp downward trend in car insurance premiums slowing

Comprehensive car insurance premiums have fallen by 9% (£66) during the last 12 months1 with UK motorists now paying £711 on average, according to the latest Confused.com Car Insurance Price Index in association with WTW.
Posted on Friday Mar 27

Millions of drivers opt out of full protection

A growing ‘protection gap' among UK motorists is becoming more apparent as consumers try to manage costs, according to new research from Close Brothers Motor Finance.
Posted on Thursday Mar 26

Insurers face rising IT costs for AI, legacy and regulation

Financial institutions face rising IT budgets as they balance innovation, legacy and regulation, says Celent, a GlobalData company
Posted on Tuesday Mar 24

Political risk insurance to surge amid geopolitical tensions

The US–Israel war with Iran is destabilizing much of the surrounding Middle East, with businesses such as hotels, data centers, and pipelines facing heightened risk of damage. Rising geopolitical tensions are set to drive a rapid increase in demand for political risk insurance, according to GlobalData.
Posted on Monday Mar 23

Insurance market remains resilient as terrorism risk evolves

As global terrorism threats become more complex and widespread, the need for comprehensive risk management and insurance solutions, including terrorism insurance coverage, has never been greater, according to Marsh.
Posted on Thursday Mar 19

Energy shock fears resurface as oil and gas race higher

The FTSE 100 falls almost 1% as oil and gas prices surge. The Bank of England is set to follow the Federal Reserve and keep interest rates on hold. The spectre of stagflation is looming as inflationary pressures mount while consumers and companies turn increasingly cautious.
Posted on Thursday Mar 19

82% of insurers say AI will define their future

AutoRek’s 2026 Insurance Report reveals a widening gap between AI ambition and execution, compounded by lengthening settlement cycles and deep-rooted data fragmentation
Posted on Wednesday Mar 18

How conflict in the Middle East is impacting Marine claims

Recent conflict in the Middle East is producing significant risks across maritime trade and global supply chains. These risks include issues such as damage to maritime transport, ports and terminals, and interruptions to supply routes by air, land, or sea. These incidents also create a broad range of commercial impacts, posing significant challenges for insureds and the broader insurance industry.
Posted on Wednesday Mar 18

A redress system that works better for consumers and firms

A redress system works best when it is clear, simple to use and trusted – both by the consumers who rely on it when something goes wrong, and by the firms expected to put things right. We’ve reached a significant milestone in our joint work with the Financial Ombudsman Service and the Government to modernise the redress system so that consumers get fair outcomes quicker and firms have greater clarity about how issues will be handled.
Posted on Tuesday Mar 17

From Peak Returns to Geopolitical Headwinds

This commentary reviews the 2025 performance and 2026 outlook for our selected top global property and casualty reinsurance companies (Reinsurers), focusing on market conditions, capital dynamics, investment income trends, and catastrophe loss normalization.
Posted on Tuesday Mar 17

Middle East conflict impacts revenue of top MEA reinsurers

The ongoing conflict in the Middle East is prompting reinsurers to rapidly reprice and recalibrate risk across many lines, with continuity of coverage and trade as primary objective, even amid rising instability. If the war continues for an extended period, it will impact the revenue growth of top reinsurers in the Middle East and Africa (MEA) region over the next few years, according to GlobalData, a leading intelligence and productivity platform.
Posted on Monday Mar 16

Geopolitical risks raise fears of Black Swan scenarios

Around 50% of companies see supply chain paralysis and a global internet outage as the two most plausible Black Swan scenarios in the next five years. Geopolitical noise around the globe masks risks from high-impact climate, health, and future technology risks. Different risk perceptions between multinational enterprises and small and medium-sized businesses. Almost 70% of UK respondents see a global internet outage as the most feared Black Swan event in the next five years.
Posted on Wednesday Mar 4

Navigating a major shift in climate transition assumptions

Seventeen months from the first edition of the Lloyd’s Market Association (LMA) commissioned report, Underwriting the Transition, the second edition, released today in collaboration again with KPMG, reveals a fundamental shift from last year’s transition assumptions.
Posted on Tuesday Mar 3

Chinese firms to continue to dominate APAC reinsurers market

Asia-Pacific (APAC) reinsurers’ premiums amounted to $58.6 billion in 2024, representing a decline from $60.2 billion in 2023, mainly due to some reinsurers adopting the IFRS 17 accounting standard. Reinsurers in China continued to dominate the regional market, with a share of 48.7% in 2024. This dominance and the resulting market concentration is expected to remain in the APAC region, according to GlobalData.
Posted on Friday Feb 27

Smarter approach to communicating our regulatory priorities

The FCA Regulatory Priorities reports mark a new approach that will help to transform our supervision and streamline regulation.
Posted on Wednesday Feb 25

IPT rakes in record £7.7 bn in January 2026

New HMRC figures released today show that Insurance Premium Tax (IPT) has generated £7.70 billion in the first ten months of the 2025/26 financial year (April–January), with £872 million collected in January alone – a record for this month.
Posted on Friday Feb 20

Sharp uptick in cybercriminals publicly posting stolen data

Applying patches and security updates quickly is critical, as attackers now move from break-in to damage in about a day. A significant number of vulnerabilities exploited in Q4 were 0day vulnerabilities, meaning organizations didn’t have time to patch prior to threat actors abusing the vulnerabilities. Email scams caused over a third of reported cyber incidents in Q4.AI is beginning to change cyber threats, but not in the ways most people expected.
Posted on Thursday Feb 19

EMEA businesses to strengthen AI era cyber resilience

Aon has said that polling from its 2025 Cyber Webinar, revealed that EMEA businesses believe they are unprepared for artificial intelligence (AI)-powered cyber threats.
Posted on Thursday Feb 19

Bad weather pushes home insurance payouts to £6.1bn in 2025

Insurers paid out £6.1 billion in property claims in 2025, according to the ABI’s latest data - the highest annual total on record. In the final quarter alone, payouts reached £1.5 billion, as adverse weather events continued to drive up claims costs.
Posted on Wednesday Feb 18

48 million struggling with high living costs

New research has revealed that 88% of the UK is struggling to cope with high living costs - equal to an estimated 48 million people nationwide. Of those in the survey, over 2 in 5 (45%) indicated that the country’s high living costs are impacting them even more than last year, showing that things have been getting worse rather than better for most households’ finances.
Posted on Friday Feb 13

Can you spot the fake AI generated claim

With insurance fraud now pushing up the average person’s annual premium by £50, new images reveal just how indistinguishable AI-generated claims are becoming - and the subtle clues we’re all missing.
Posted on Thursday Feb 12

Property insurance claims to hit record high for 2025

UK property insurance claims are expected to hit £6.1 billion for 2025 – the highest payout on record. Claims specifically related to weather are likely to reach £1.6 billion, double the annual levels seen between 2017 and 2021. Weather claims set to make up 25% of the total amount paid out by UK property insurers in 2025. 84% of home insurance professionals surveyed by Deloitte say that climate change is a risk to their business.

Posted on Wednesday Feb 11